Columbia Banking price target raised to $26 from $21 at RBC Capital

RBC Capital raised the firm’s price target on Columbia Banking to $26 from $21 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The company’s fundamentals were driven by stabilizing margin trends and solid expense control, and the firm was encouraged by the recent initiatives which have driven more consistent trends as wel as its “improving expense outlook”, the analyst tells investors in a research note.